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U.Today - The spot Bitcoin ETF market is back in the spotlight, with BlackRock’s iShares Bitcoin Trust (IBIT) performing exceptionally. As revealed on X by ETF Store President Nate Geraci, BlackRock’s IBIT is now maintaining its 20-day inflow, an unusual one for an asset as young as it is.
BlackRock Bitcoin ETF takes centerstage
Drawing on the 20-day inflow streak, the BlackRock IBIT has raked in over $5 billion for this period. As Nate Geraci pointed out, the company’s ETF product has defied the "no demand" narrative from its critics in its early days.Since Bitcoin rebound became pronounced in the broader crypto market, IBIT has staged a sustained inflow since at least April 24. The highest daily inflow recorded within this time came in on April 28, where $970.9 million was raked in.
Thus far this week, the BlackRock Bitcoin ETF has scored $69.4 million, a fund amid the U.S.-China trade deal, which both nations scored over the weekend.
The market outlook shows high volatility at the moment. While core rivals like Fidelity’s FBTC and Bitwise’s BITB are recording outflows, IBIT investors have managed to keep faith in the top coin.
Bitcoin price to determine trends
The BTC price trends have always determined the spot Bitcoin ETF market trend. At press time, the Bitcoin price was changing hands for $102,765.48, down by 1.67% in the past 24 hours.Notably, this bearish growth outlook is considered a healthy correction as the top coin still maintains its support at the $102,000 price. If the coin’s price continues to hold support above the $100,000 mark in a push to reclaim its all-time high, its associated ETF products will continue to see impressive inflows.
While BlackRock remains the biggest contributor to the spot BTC ETF market, others also maintain a positive inflow streak to add to the cumulative value locked.